This compound is primarily utilized in the pharmaceutical and chemical research sectors. It serves as an intermediate in the synthesis of more complex molecules, particularly in the development of drugs targeting neurological and inflammatory conditions. Its structure allows it to act as a precursor for compounds that modulate enzyme activity or receptor interactions, making it valuable in medicinal chemistry. Additionally, it is explored in the creation of prodrugs, where its carbamate group can be cleaved to release active therapeutic agents. Researchers also investigate its potential in polymer chemistry for designing functional materials with specific biological activities.